Amundi Deploys SAFO Fund on Solana, Expanding Multi-Chain Strategy

Europe's largest asset manager, Amundi (€2.4 trillion AUM), has taken a significant step in institutional blockchain adoption by deploying its Short-Term Asset Fund (SAFO) on the Solana blockchain. In partnership with tokenization specialist Spiko Finance ($1.7 billion AUM), the UCITS-compliant fund marks a milestone for Solana's institutional credentials, placing it alongside Ethereum and Bitcoin in the eyes of conservative European investors.

Multi-Chain Expansion Accelerates

The Solana deployment is the latest in a series of expansions for SAFO, which Amundi and Spiko previously launched on Ethereum, Polygon, Arbitrum, Base, Starknet, Stellar, and Etherlink. As of March 2026, the fund had roughly $100 million in committed assets under management (AUM) across these chains. The addition of Solana underscores a deliberate multi-chain strategy, leveraging each network's unique strengths—Solana's high throughput and low costs complement Ethereum's security and layer-2 scalability.

This move is not a speculative bet. Solana has already attracted institutional infrastructure from Visa, PayPal, and Stripe, and US Solana spot ETFs recently crossed $1 billion in AUM. Amundi's entry confirms that momentum, signaling validation from the most conservative end of European finance.

UCITS Structure Opens New Capital Channels

The UCITS (Undertakings for Collective Investment in Transferable Securities) framework is the European Union's gold standard for regulated investment funds, analogous to spot ETFs in the US market. By offering a UCITS-compliant fund on Solana, Amundi enables institutional investors—pension funds, insurance companies, and sovereign wealth funds—to gain exposure to tokenized real-world assets through a familiar, regulated vehicle.

Spiko Finance handles the tokenization layer, converting traditional assets into on-chain representations. The partnership leverages Spiko's expertise in creating compliant, transparent digital securities. For Solana, this opens a new capital channel: European institutional capital that previously could not access blockchain-based funds due to regulatory constraints can now participate seamlessly.

Institutional Divergence: Amundi vs. Goldman Sachs

The backdrop includes a notable divergence in institutional strategy. Goldman Sachs recently reduced its SOL exposure, a move that generated significant desk chatter. Amundi going long while Goldman trims creates a two-sided institutional narrative that tends to compress short-term volatility while building structural demand over longer horizons. Both positions reflect legitimate strategic logic—Goldman may be rebalancing risk, while Amundi is positioning for multi-year adoption.

This divergence is healthy for the ecosystem. It indicates that institutional capital is not monolithic; different players are calibrating their blockchain exposure based on timeframes and mandates. Amundi's UCITS fund provides a low-cost, regulated on-ramp for long-term allocators, potentially attracting capital that would otherwise remain on the sidelines.

Implications for the Broader Market

Amundi's multi-chain deployment of SAFO signals a maturing market where blockchain selection is driven by use case rather than tribalism. Solana's inclusion validates its role as a settlement layer for institutional-grade assets, while Ethereum remains the dominant chain for tokenization. The $100 million AUM across seven chains is modest relative to traditional finance, but the trajectory is clear: tokenized assets are moving from pilot to production.

For investors, the key takeaway is that regulatory-compliant blockchain funds are becoming a viable asset class. Amundi's SAFO offers a template for other asset managers to follow, potentially accelerating the convergence of traditional finance and decentralized infrastructure.

Key Takeaways

1. Amundi and Spiko deployed SAFO on Solana, expanding the fund's multi-chain presence to eight blockchains.
2. The UCITS-compliant structure enables European institutional investors to access tokenized assets through a regulated vehicle.
3. Solana's institutional momentum is reinforced by Amundi's entry, despite Goldman Sachs trimming exposure.
4. The $100 million AUM across chains signals growing adoption of tokenized real-world assets.

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